Thursday, January 28, 2010

UGL And Queensland Rail Sign New Rail Freight Deal

A$126 Million in New Rolling Stock
Shipping News Feature

AUSTRALIA - UGL Limited today announced that it continues to strengthen its presence in the rail sector with a new contract to supply 15 new C44ACHi locomotives and 160 freight wagons for QR Limited’s coal haulage expansion in the Hunter Valley.

Delivery of the first locomotives is scheduled for December 2010 and the freight wagons from April 2010. UGL has been partnering with QR on manufacturing and maintenance projects for over 20 years and this new project strengthens this ongoing relationship.

UGL’s Managing Director and CEO, Richard Leupen, said the growth in the Australian coal market bodes well for UGL, and the group is well placed to benefit from increasing investment on capital equipment and infrastructure as producers look to increase production to meet growing demand from local and international customers.

UGL is about to complete a locomotive build program for QR and states that this latest contract “…reflects the group’s status as a trusted longer term supplier to QR. It also further cements UGL’s position as one of Australia’s leading manufacturers and suppliers of rolling stock.”

The company also report that their contracts in the rail sector are at their highest ever levels. Since November 2009, the group has secured almost $460 million of new rail manufacturing, maintenance and infrastructure projects, and the group continues to pursue a number of growth opportunities both in Australia and overseas.